TORONTO, Dec. 6, 2013 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs"), the manager and trustee of the Horizons US Dollar Currency ETF (the "ETF"), listed on the Toronto Stock Exchange ("TSX") under the symbols DLR and DLR.U, has announced today that it intends to consolidate the units of the ETF, as outlined below:
After the TSX has closed for trading on Friday, December 20, 2013, the units of the ETF will be consolidated on the basis of a ratio (the "Consolidation Ratio") yet to be determined, such that the net asset value ("NAV") of the units of the ETF traded on the TSX under the ticker symbol DLR.U will equal $10.00 USD upon such consolidation. The units of the ETF will begin trading on a consolidated basis on Monday December 23, 2013, the effective date of the consolidation.
Based on the closing NAV of December 5, 2013, the Consolidation Ratio would be approximately 1:1.005, i.e. for every 1.005 pre-consolidated units outstanding, one (1) consolidated unit would be issued. This rate is provided only as an example of the Consolidation Ratio. The final Consolidation Ratio will be determined at the close of business on Friday, December 20, 2013.
For further information visit www.HorizonsETFs.com
About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
Horizons ETFs is an innovative financial services company offering the Horizons ETFs family of exchange-traded funds. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. With approximately $4.4 billion in assets under management and 73 ETFs listed on the TSX, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs is a member of the Mirae Asset Financial Group.
SOURCE: Horizons ETFs Management (Canada) Inc.
For further information:
Martin Fabregas, Investor Relations, [email protected],
(416) 601-2508 or 1-866-641-5739.